Financial Reports: Staples, School Specialty

Aug 16, 2006 6:04 AM  By

Staples Second-Quarter Sales Improve 12%
Second-quarter sales for Framingham, MA-based catalog/retailer Staples jumped 12%, to $3.88 billion for the three months ended July 29. The office supplies giant posted record sales and earnings, driven by market-share gains in North America and steady progress in its international business. Net income climbed 19%, to $161 million.

Second-quarter sales from its North American Delivery Business—which includes the Staples and Quill catalog and online businesses as well as the Staples contract delivery business—grew 17%. North American Retail sales increased 10%, and international sales increased 5%.

School Specialty Off to Good Start in First Fiscal Quarter
Multititle educational products cataloger School Specialty got off to a good start in the first quarter of its fiscal 2007. For the three months ended July 29, the Greenville, WI-based merchant posted sales of $385.4 million, a nearly 8% increase over the first quarter of last year. Net income rose nearly 7%, to $36.9 million. The company’s titles include Sax Arts & Crafts, Frey Scientific, and Sportime.